The Kingdom reported total revenues of SR293.43 billion in the same quarter, while public spending came to SR305.82 billion, according to the ministry’s quarterly budget performance report.

Official data indicates that overall revenues rose by 4% from the first quarter of 2023.

With oil receipts of SR181.92 billion, the Kingdom reported a budget deficit of SR12.39 billion for the first quarter of this year.

The report showed that the Kingdom’s spending on the development of economic resources rose 8 percent to reach SR18.68 billion as compared to the same quarter in 2023.

The amount spent on public administration came to SR16.52 billion, up 39% over the first quarter of the previous year. SR58.85 billion was spent on the military in the first quarter of 2024, a 16 percent decrease from the same time in 2023.